Live Patch Presents: Governor Tom Corbett's Budget Proposal

View Corbett's budget at this link

At last, the secrets of the universe will unfold, the holy grail will be discovered, and the answer to the meaning of life will be shouted from the rooftops.

Ok, not quite.

Starting at 11:30 am (ish, we're talking a press conference), governor Tom Corbett will be presenting his closely-guarded version of the budget to the public. We'll be updating via Tweet and right here on the front page to let you follow along.

What: Corbett's budget announcement

When: Today at 11:30 am

Why should you care: Because it will affect every corner of your Pennsylvanian life. From schools to health care to liquor, supposedly it's all in there.

11:33-The house is called to order

11:35-After being called "his excellency", Corbett gets a standing ovation

11:36 Corbett takes the podium

11:38- After eulogizing Jack Seltzer, introduces lieutenant Michael O'neill

11:40 I'm here today to talk about the future...we confront an undeniable reality. The day of reckoning has come. We have work to do.

11:42-I bring you a budget with a message, 1 we have to spend less. 2. we cannot tax more, the people have no more to spend.

11:43-we stop the one-time fixes and pull of the duct tape. We have to fix what's underneath.

11:44- PA is an apple tree that needs pruning on all branches of government so the tree can bear fruit. and that fruit is jobs...

four prong of budget:

fiscal discipline = no new spending, take government out of places it isn't working. Our "rainy day fund" is gone, and it's still raining.

no new taxes because:

1. "modest" tax increase is only modest to the wealthy. Ask the mom and pop stores if the tax increase feels modest.

2. Tax increases choke growth. Studies show that states that grow fastest stay out of the way

3. Pretty simple. The voters said no. (massive applause)

11:52 Option I have chosen is to reduce the size and cost of state government. I said we'd cut. I'm not asking you to read my lips, I'm asking you to read my budget.

11:53 Agree to a one-year freeze on pay increases for teachers would Save districts 400 million

11:54-School boards need to stop raising taxes. any tax increase beyond inflation should be put on the back burner. 

11:55-And the voters will let them (boards) know.

11:57-PA needs to rethink how to best educate our children. We just can't keep working in an open system.

11:58-portable education funding, so kids aren't trapped in failing schools. Let's give them school choice.

11:59-many state governed by Dems and reps alike are facing budget problems

12:00-cant keep paying for state government employees benefits, employees contribute 3%, and the taxpayer covers the balance

12:01 If you're looking for "walking around money" it's not there. Cut WAM's

12:04-Marcellus shale discovery. There's pressure to tax the gas...

Underneath Marcellus, there's the Utica underneath. If we tax businesses (for gas industry,) we'll scare them away

let's make PA the TX of the natural gas boom

12:07Tort reform. You shouldn't have to fight every lawyer with enough money to put up a billboard.

12:08 Pass the Tort Reform bill again, you now have a governor who will sign it.

12:09-keeps an array f tax credits not as a favor to business...but we need to bring jobs in (aka increase film tax credit)

Talking about liquor business. Government shouldn't run the liquor stores any more than they should own pharmacies or gas stations

we need correction officers and probation officers. 

you know my background. today we have over 50,000 men and women in our prison system 

12:17 government will never be cost-free...we said we'd fix this mess, and we need to keep that promise

12:17 Penn called his settlement "the holy experiment"...and we have an obligation to get things right.

12:18-Concludes with: Let's build a new Pennsylvania. thunderous applause and standing ovation as he leaves.